Government to give $1 million to small business

The Queensland Government has decided to allocate more than $1 million in a flood prevention fund for small business in North Queensland.

According to the administration, the exact amount of $1,096,545 will assist 102 small businesses that were hit by the monsoon.

Minister for Natural Disaster and Emergency Management David Littleproud the grants help hard-hit small businesses access experts to rebuild and increase their resilience.

Businesses can apply for up to $10,000 to improve their business plans, retrain staff, for business mentoring, financial counselling and improving sustainability. This will help both flood-proof businesses and repair flood damage,” Minister Littleproud said.

Within the government, the idea is that this financial assistance will support any recovery needed in the local business as well as will reduces the impact of future natural disasters.

Minister for Employment and Small Business Shannon Fentiman said the Small Business Disaster Recovery Grants were available to businesses in 14 local government areas. “There have been 127 grants approved so far with businesses using the funding to repair damage caused by the flooding as well as build resilience for the future.”

Understanding how your business has been affected by the natural disaster will help you to know what action to take to get back to normal business operations as soon as possible.

  • your premises, equipment, machinery, stock and records may have been damaged
  • the homes of some of your employees may have been damaged
  • your suppliers may have been unable to reach you
  • your customers may have gone elsewhere to purchase products and services if you were unable to open

The program is jointly funded by the Commonwealth and Queensland governments through the Disaster Recovery Funding Arrangements, in response to the monsoon in late January through to early February.

The grants program opened on June 10 this year and will remain open for up to two years.